FinBizness Video

IWhat #VCs keep in mind while investing in #Fintechs? How VCs look at different exit strategies in #Fintechs? Sanjay Mehta, Angel Investor explains how Fintechs should keep the focus on growth and asserts that global blockchain companies will create a disruption in India that could slow down Indian Fintechs rise. Web Link : http://www.finbizness.com/2018/02/12/global-blockchain-companies-threaten-indian-fintechs-rise-sanjay-mehta/

Boston based Mark O’Neill of Gartner explains how open API will drive banks growth. Since Mark advises many global banks, he mentions that PSD2 forced banks in Europe to expose APIs. Mark also adds that Banks are worried and privacy is a major concern.

There is an oligopoly structure in banking sector in Sri Lanka with 8 banks having market share of 85%. But now there is competition from Fintechs as well as Telcos. Fintechs are mushrooming and challenging banks to innovate, says Dilshan Rodrigo, COO at Hatton National Bank.

Capgemini believes that by leveraging AI and Blockchain, banks can engage with consumers in a faster and more consistent manner. Sankar Krishnan, Global Accounts Executive adds that AI & machine learning helps in identifying the pattern to prevent frauds.

In an interaction with FinBizness Janelle Hill from Gartner explains how financial institutions from the USA are transforming in the digital era. She says Capital One Bank and BBVA Bank have adopted digital design companies. Janelle believes that trend in future will be mobile and online banking, many economies will move away from physical currency.

Global analysts believe that Big Data is the major transformation for BFSI. Data can generate value to business because data provides insights that help take appropriate actions. Importantly, data is generated from multiple sources.

Life insurance policies are issued in 5 days and claims are processed in 8 days. IDBI Federal Life insurance achieved this turnaround post digitalization. Company’s COO, Lalitha Bhatia says, slowly customers are picking up the idea of buying insurance online. She adds that company is using Data Analytics & chatbots to offer right product & […]

The number of merchants opting online payments is significantly low in India, to bring more merchants onboard, the card payment industry with govt developed ‘BHARAT QR’ says Vikas Saraogi, Senior Director & Head Acceptance, South Asia at Mastercard. He also believes that digital payment systems will benefit SMEs & micro-merchants to scale up.